Interesting that your take is that the current price reflects only the highly discounted TP project, and not CO. There are others that believe just the opposite, that the price reflects the much less discounted CO project and basically ignores TP. Either way we can agree that the current price is low.

And just a point on okiedo's observation on the 10 years between the CO DFS and production. I believe this is apples and oranges. There was a dirth of investment and progression on lithium projects around the world after the great price collapse starting in 2016. This doesn't explain the whole delay, but safe to say that there was much more risk associated with pouring money into new production then. Now, in an unprecedented manner, companies and governments are pushing for new projects to come on line. If site prep starts this fall and big shovels go in the ground next March, we should see commissioning in the summer of 2025.

But as everyone has noted, not the first time there's been a timeline to production. Let's hope this time is different.